The scope of internal auditing work encompasses a systematic disciplined approach to evaluating and

QUESTION

A. risk managementB. controlC. financial statementsD. governance
answer is Option (C) Financial Statements The scope of internal auditing work encompasses a systematic, discipliend approach to evaluating and improving the adequacy and effectiveness of all of the following process: (1) Internal Control (2) Risk Management (3) Corporate Governance Internal Control involves: Efficacy of operations, the reliability of financial reporting and Compliance with laws and regulations. Internal auditing professional standards require the function to

onitor and evaluate the effectiveness of the orgnisations risk management process. Risk managmenet relates to how an organization sets objectives, then identifies analyzes and responds to those risks that could potentially impact its ability to realize its objective. Hence, the answer is Option (c) Financial Statements

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